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28 Mar 2011 10:58
Entry into a Share Purchase Agreement
and
Publication of a Circular to Shareholders
Cape plc, (AIM: CIU) the international provider of essential, non-mechanical support services principally to the energy and mineral resources sectors, today announces the entry into a share purchase agreement (the "Agreement") with the registered holder of 250,000 preference shares of £1 each in the capital of the Company (being all the preference shares in issue) (the "Preference Shares") pursuant to which the Company has agreed to buy-back all the Preferences Shares for £284,200 (the "Buy-Back").
Completion of the Buy-Back is subject to and conditional upon (amongst other matters) the approval by shareholders of the Company of a special resolution, which to be passed will require the approval of 75 per cent. or more of those persons who, being entitled to do so, vote at a general meeting of the shareholders of the Company which is to be held on 13 April 2011 (the "General Meeting"). A circular containing further details of the Buy-Back and a notice convening the General Meeting will be sent to shareholders shortly (the "Circular").
Pursuant to the requirements of the Companies Act 2006, the Agreement will be available for inspection at the Company's registered office during normal business hours on any weekday (Saturdays, Sundays and public holidays excluded) until the close of the General Meeting and at the place of the General Meeting for at least 15 minutes prior to and during the General Meeting.
A copy of the Circular can be found on the Company's website at www.capeplc.com
For further information please contact:
Cape plc
Martin K May, Chief Executive Officer
Richard Bingham, Chief Financial Officer
Tel. +44 (0)20 3178 5498
Numis Securities Limited
Nominated Adviser:
John Harrison, Managing Director Corporate Finance
Corporate Broker:
James Serjeant, Director Corporate Broking
Tel. +44 (0)20 7260 1000
M: Communications
Patrick d'Ancona or Ben Simons
Tel. +44 (0)20 7920 2340
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